The higher the timeframe, the stronger the S/R levels. The stronger the S/R level used as SL, the harder it is to be broken. Simple logic dictates that a TP should be easier to reach than its SL. The end result of a complete analysis is a trade plan in the form of “EP —> SL / TP”. Anything less is an incomplete analysis ...
Since the market moves 24/5 continuously, the weekly should become the obvious choice to identify the ongoing trend to be used as a reference ...
During an uptrend, the impulse wave moves from a support toward a resistance, and the corrective wave from a resistance to a support. Vice versa for a downtrend ...
Resistance = Highest middle among 3 consecutive candles,
Support = Lowest middle among 3 consecutive candles ...
Since the market moves 24/5 continuously, the weekly should become the obvious choice to identify the ongoing trend to be used as a reference ...
During an uptrend, the impulse wave moves from a support toward a resistance, and the corrective wave from a resistance to a support. Vice versa for a downtrend ...
Resistance = Highest middle among 3 consecutive candles,
Support = Lowest middle among 3 consecutive candles ...
Market is not random but unpredictable